Telecom NZ sells Macquarie, AAPT divestment still on the cards

29 Jul 2010

Telecom New Zealand has announced that it has sold its stake in Australian telecoms operator Macquarie Telecom for AUD9.9 million (USD8.85 million), Reuters reports. In addition to that sale, Telecom has also revealed it is still considering its options for the divestment of its stake in its main Australian subsidiary, AAPT. The New Zealand outfit has previously said that it will look at any offers for AAPT that were in the interest of its shareholders, and reports earlier this week claimed that Australian alternative operator iiNet was close to reaching a deal to purchase AAPT’s consumer business after an offer from TPG Telecom for all of AAPT’s operations fell through.

Australia, AAPT, Spark